New Home Buyers Increasingly Priced Out Of Market

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The increasing demand for new homes in Indiana, coupled with the rising costs of labor and materials, is pushing more and more would-be homeowners out of the market.

A new report by the US Census Bureau puts year-to-date new home permits down by eight percent.May to June new home building permits decreased by 10 percent, across the state. Indiana Builders Association CEO Chris Wajda, said a labor shortage and the Trump administration’s tariffs are increasing the prices of new homes. He said The Great Recession’s effect on new home construction is still being acutely felt in Indiana, as demand bounces back but the number of construction firms stays at one-third of their pre-recession levels.